This bill amends existing Iowa law regarding the filing of biennial reports by business entities with the Secretary of State. It removes a specific paragraph from Section 490.122 and introduces a new subsection that allows the Secretary of State to impose, assess, and collect a filing fee as a condition for accepting these biennial reports. Additionally, it modifies the language in Section 490.1621 to clarify the timing and requirements for submitting the biennial report, specifying that the first report must be delivered between January 1 and April 1 of the first even-numbered year after incorporation or registration, and subsequent reports must be delivered in each following even-numbered year.

The bill also updates the terminology related to the biennial report, changing "shall" to "must" and "reports" to "report," while establishing that the filing fee for the biennial report will be determined by the Secretary of State. This aligns the language of the statute with similar provisions for other types of business entities, ensuring consistency across the regulations governing domestic and foreign business entities in Iowa.

Statutes affected:
Introduced: 490.122, 490.1621